CHICAGO, December 17, 2021 / PRNewswire / – According to New Market Research Report “Public safety and security Marlet by component, solution (critical communication network, biometric and authentication system, surveillance system, emergency and disaster management, cybersecurity), service, vertical and region – Global forecast to 2025“, published by MarketsandMarkets ™, the market is expected to grow by $ 365.0 billion in 2020 at $ 516.5 billion by 2025, at a compound annual growth rate (CAGR) of 7.2% over the forecast period. The increasing number of terrorist attacks and increasing investment in public security measures for smart cities to drive the market growth.
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431 – Tables
88 – Figures
432 – Pages
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By Solution, Emergency & Disaster Management Segment Records Highest Growth Rate During Forecast Period
Emergency and disaster management solutions are used by government and private organizations to save the public from man-made or natural disasters, such as hurricanes, typhoons, earthquakes, cyclones or tsunamis. E These systems are web-based, easier to manage, and offer rapid responses, disaster recovery solutions and simulation. systems such as traffic simulation, hazard propagation and incident assessment. Hence, the detection services segment holds the highest growth rate during the forecast period.
Based on the vertical, the transportation system is expected to grow at the highest CAGR during the forecast period
The transport systems vertical includes airports, seaports, railways and others (traffic management, parking management and management of subways and tunnels). Urban transport plays a vital economic and social role, enabling large numbers of people to move safely and quickly at very favorable prices. Road, rail and metro networks are physically integrated with each other and with other modes of transport. Concerns such as terrorist attacks, natural disasters and accidents have increased security challenges in terms of threat response and prevention. Public safety and security solutions for vertical transport systems can help avoid unnecessary consequences. Hence, the transportation systems register the highest growth rate during the forecast period.
North America hold the largest market share during the forecast period.
North America has the presence of several leading market players offering public safety solutions to all end users in the region. The United States and Canada both have solid economic conditions and are expected to be major contributors to the growth of the Public Safety and Security Market. The geographic presence, the significant Research and Development (R&D) activities, partnerships, acquisitions and mergers are the major factors in the deployment of Public Safety and Security and services. Major vendors such as Cisco Systems, Esri, General Dynamics, Harris, Haystax Technology, IBM, Motorola Solutions, Rave Mobile Safety, and Verint Systems are headquartered in the United States.
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Major vendors offering public safety software include AGT International (Switzerland), Alcatel-Lucent Entreprise (France), Atos (France), BAE Systems (UK), Cisco Systems (US), Elbit Systems (Israel), Ericsson (Sweden), Esri (United States), General Dynamics (United States), Harris (United States), Haystax Technology (United States), Hexagon (Sweden), Honeywell (France), Huawei (China), IBM (United States), IDEMIA (France), Motorola Solutions (United States), NEC (Japan), PLEASANT (Israel), Rave Mobile Safety (United States), Siemens (Germany), Teltronic (Spain), Thales Group (France), Tyco (Johnson Controls) (Ireland) and Verint Systems (United States).
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